Updated over 11 years ago on . Most recent reply
Profit Sharing
Hello,
I am entering a partnership to flip houses. However, we are not yet on the same page as to how the profits should be split. I would be the person fronting the money. Thus, I have the financial risk. He would be the person bringing in the contractors that he knows. He says we should use his contractors because they would provide more reasonable prices and shorter renovation time. I would merely be supervising the renovations and helping with some of the decision making. At the end of the day, I don't believe him bringing his contractors to the table warrants a 50/50 split. Perhaps, there is something I am missing. So, can someone enlighten me as to what may be seem fair and reasonable? Thanks!